4 ms·
> (100 accounts a day? Really, that’s it?) Today's question on your statistics 101 exam: You have a population of 100 million people. You estimate that the tr
by jcranmer 4y ago
> (100 accounts a day? Really, that’s it?)
Today's question on your statistics 101 exam:
You have a population of 100 million people. You estimate that the true probability of some statistic is about 5%. What sample size do you need to be 95% sure that you are within 5% of the correct answer? Answer: 73.
(No really, this kind of question is absolutely going to be in a Stats 101 class. And sample sizes really don't need to be that big to be accurate.)